May 22, 2012Mayor Lee Announces Golden State Warriors To Build New Arena On San Francisco WaterfrontTeam to Construct Privately Financed, State-of-the-Art Sports & Entertainment Facility to Open in 2017

San Francisco, CA – Mayor Edwin M. Lee today announced that the Golden State Warriors plan to build a new sports and entertainment arena on the waterfront in San Francisco in time for the 2017-18 NBA season. The privately financed arena will be located at Piers 30-32 on San Francisco Bay, south of the Bay Bridge, between the Ferry Building and AT&T Park.

“We are working with the Warriors to get a state-of-the-art, multi-purpose arena built on the waterfront in San Francisco and completed in 2017,” said Lee. “The Warriors have been the Bay Area’s basketball team for 50 years, and today sets the stage for the Warriors to be the Bay Area’s team for another 50. This project will provide millions of dollars in new tax revenue for San Francisco over the long term for services local residents need, including public safety, parks, public transit, pothole repair, youth programs and senior services.”

“Building a world-class, state-of-the-art sports and entertainment facility will create thousands of new jobs for local residents,” said Warriors Co-Executive Chairman and CEO Joe Lacob. “We are pleased to be privately financing the arena – with no money from the City’s general fund and no new taxes – and look forward to providing an incredible entertainment experience for Bay Area fans.”

The new facility will host the Bay Area’s NBA basketball team, as well as provide a spectacular new venue for top-tier concerts, cultural events and conventions, prominent events the City currently cannot accommodate. The new arena will be located in an incredibly transit- and pedestrian-rich location, with a Muni Metro stop at its doorstep, and only a few blocks from Embarcadero Station and the new Transbay Transit Center.

“With convenient options for BART, Muni, CalTrain and ferry service, this will be one of the most transit-friendly facilities in the nation,” said Warriors Co-Executive Chairman Peter Guber. “We know that’s important for our fans and a real positive to this location.”

Under the agreement, the City will provide the land and the Warriors will pay to repair the crumbling piers, and privately finance the arena project. The cost of repairs is estimated at $75 to $100 million.
In addition to the creation of thousands of new jobs for Bay Area residents, the new arena will generate hundreds of millions of dollars in new economic growth and activity for the City.

“Games, concerts, conventions and other events will bring people from all over the region, and the money they spend will directly benefit local businesses,” said San Francisco Travel President & CEO Joe D’Alessandro.